Revenue Recognition

Date recorded:

An education session was held on revenue recognition in preparation for decision making sessions on Thursday. No decisions were made at this session. The topics discussed included:

  • Identifying separate performance obligations: clarifying the criteria for identifying separate performance obligations and distinct goods and services;
  • Performance obligations satisfied over time: clarifying the criteria in paragraph 35 of the revenue recognition revised exposure draft;
  • Licenses and rights to use; and
  • Identifying onerous losses arising from contracts with customers.

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